Bloomberg
• Isolde MacDonogh
Seraphim has launched a new exchange-traded fund offering investors targeted exposure to the space sector, positioning the vehicle as a pure-play alternative amid heightened attention following the IPO of Elon Musk’s SpaceX. The fund creates a new channel for capital seeking concentrated exposure to space-related businesses.
Commercial Space
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Commercial providers are increasingly filling national security space needs that government programs cannot deliver quickly, offering faster development and lower acquisition risk. But the shift from government-owned, purpose-built systems to commercial-first procurement has limits, requiring policymakers to distinguish scalable capabilities from areas where bespoke systems remain necessary.
Seraphim has launched a new exchange-traded fund offering investors targeted exposure to the space sector, positioning the vehicle as a pure-play alternative amid heightened attention following the IPO of Elon Musk’s SpaceX. The fund creates a new channel for capital seeking concentrated exposure to space-related businesses.
Japan’s ispace reported an 85% year-over-year decline in sales and a deeper operating loss for the three months ended June 30. The lunar infrastructure company said the deterioration was expected and does not change its ability to meet its full-year sales target.
High activity
With Starship Flight 14 targeted for launch in the coming weeks, SpaceX is expanding facilities and launch infrastructure in Florida. The work is intended to enable Starship operations from Kennedy Space Center’s LC-39A and, eventually, SLC-37, broadening the program’s launch-site capacity.
Intuitive Machines has secured a contract to build two IM 300 series platforms for an undisclosed commercial customer. The satellites will be produced at the company’s high-volume Palo Alto facility, using the platform that has also supported Space Development Agency missions.
Howmet Aerospace shares fell after SpaceX said it plans to produce turbine blades internally, raising concerns about the supplier’s exposure to the launch company. Two Wall Street banks characterized the selloff as an opportunity to buy, framing the announcement as a limited impact to Howmet’s broader aerospace business.
Helogen announced two missions of its HEL-IOS platform, designed for in-orbit biomaterials manufacturing, scheduled to launch in October. The back-to-back missions will test the company’s platform in space and advance commercial efforts to produce biomaterials beyond Earth.
Denver-based satellite ground-software startup Quindar will manage ground operations for Quantum Space’s maneuverable spacecraft, linking its mission-control platform with a spacecraft designed for in-orbit movement. The agreement highlights the growing role of commercial software providers in operating increasingly capable satellite systems.
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